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I do agree that we havent got a lenigas or a jan Nelson who would have issued shares like they were going out of fashion. But the point is valid that after all funding has been completed, exactly how much will be left for us PI's.
The Mcap has not changed a whole lot from when the SP was 40p years ago, yet the SP has halved. Of course funding is needed, and issuing shares is the most efficient way, but 5% here, 10% there is certainly chipping away at the PI's every time and even at the current rate of share issuances, we will end up scraping the jam jar by 2025 if we are lucky. For us mortal PIs, percentage ownership relative to mcap is irrelevant unfortunately. We are constraigned and at the mercy of shareprice movements. Im beginning to ask myself whether SOLG should just be traded on spikes? Despite huge value sitting in the ground, it is questionable how much we will be left with if NM goes to production with this.
hope you're safe n well me ol mucker!!!
would be nice wouldn't it - q is what was that lot on Friday CGP/NCM???
ZRS - NM brought an NCM rep onboard precisely to assist with his endeavours for expansion and ultimate production. It is becoming apparent that the advice NCM is/has given, is not welcome and so the pair have fallen out. NM 'thinks' he knows better, no doubt especially now that he has been assured by the franco support. But believe me when I tell you he is in no way "in the major league" in any shape or form. He might think he is but as it stands (reflected in his activities and time scales), he is still a minnow and continues to think like a big fish in a small pond.
BNC - I have indeed noticed the comments made by NCM & NM have become frosty - then again, would you appreciate someone telling you how to run your own companies finances - it was not their right (NCM) to be telling SOLG how to run their business - they're as you there for their block caving expertise & investment - Of course they NCM/BHP want to fund via equity raises, as they get more of the pie & of course NM don't wanna give away the co - its akin to the ol dragons den. Then again, the co looking for funding is still looking for A) funding & B) The Epxerise of the Dragon(s) - quite an apt anology me finks!!!
ZRS - IF......and it is a massive IF.....he really genuinely wants to take this to production, he needs support from a major(s). Annexing them at this stage and coming up with c -o -ckamamie pathways like NSR financing and Placings is a strange way to go about it.
BNC - POssibly - but as above, in all fairness, NM has kept a pretty tight reign on the share register really you have to admit. He's not issued shares like confetti [like some co's do] - despite what BM123 keeps accusing him of - at least we dont have a fur-kin Lemongrass as a CEO [David Lenigas) we'd have 20 billion shares in issue if he were involved!!!
ZRS - BHP must be pulling their hair out. Hurry up October, that's all I can say.
BNC - To be fair to them, they've not really said a great deal, but then again, they don't need to. They've got the money to buy us if they want to & I'm sure if they do, they'll manage to do so one way or t'other!
ZRS - To re-iterate, Bkn - I am firmly of the belief that this stock will make it BIG. No ifs or buts..............it's just the length of time he is taking over it. Get on with it Mather and stop thinking you are the new mining messiah!
Sell Alpala and bask in its success and press on with the other 70+ tenements. Clocks ticking old man.
BNC - Agree 100% - I really dont wanna hear about becoming a mining major - the Ecuadorian BHP - shove it - deliver some returns & gerron with it!!!! I've always thought ti was a game of poker bluff - but aint so sure now..... I would much rather we sold Alpala / Cascabel & even some more (not the whole co) and moved onto the next project with a boat load of cash to do so!!!
Hi Zoros - trust you're safe n well (and to all the good folks here too btw - I dont think we're courteous enough by far these days and I'm as guilty as the next person lols)
I've copied ur reply and added my replies to it.........
ZRS - Your placing Q first: Are you suggesting that NM diluted (through this placing)by 0.5% with the full knowledge that the market would probably react by the same (at the very least)?
BNC - No not at all, I'm suggesting NM has seen a more buoyant market for fund raising and taken the opportunity to do so in a favourable market - talking to another poster here, they suggested SOLG may even use to to pay off the "expensive" loan from Franco.......
ZRS - Lo and behold the market did react and by 20 times the dilution rate, at 10%!
If (as you say through your experience) you know this is going to happen...tell me why anyone, absolutely anyone in their right mind would enrol for any allocations? Instead (if they want discounted shares) they simply buy the next day.
BNC - Because as mentioned before, they are supporting the company by providing much needed funds (we are afterall an explorer and have no revenue as you know matey) - just buying on the open market cheaper than the placing might allow the buyer to get them cheaper, but that doesn't raise any funds for the co.
ZRS - Can you explain why there is a religious calling (by some) to get on the placing bandwagon?
BNC - I cant speak for what other folks post, but maybe the reason above, or maybe another - who knows?!?
ZRS - On your second issue (NM playing in the major league), he is way outside his capability currently and flying blind. I own two companies and when I decided to expand, I brought in 'experts' in areas I was not familiar with, as I got larger. They paid for themselves in spades. They then stood down.
BNC - I'm guessing Warren Irwin may have been of the same view also. I think NM has a wealth of experience, but as mentioned, in lower leagues but now operating in the top league so may be a little wanting there. ps what you've done is good business sense. However, NM has now brought in Citi - to advise/assist. It may have been their advice that persuaded NM to undertake a placing & Open Offer via Primary Bid for PI's....
It is hard to see when SOLG will deliver something meaningful. I am not heavily invested and paper loss is much less than paper profit on GGP. It is useful to see others' tips and I will research those. Currently I am considerably up on BMV (South Korea Gold Mines) and mining is due to start late this year. It is small but has potential and also has a relatively stable SP. I will probably sell SOLG and move to another where something may happen. I am still unhappy at the fund raise level and feel let down
Same view here,if it is another big conglomerate who's buying in on Monday then indeed it opens up a whole new ball game imho,NM will deffo want to get them drills turning and updates out fast ,certainly before October when BHP are freed up because when they are free them offers will be coming thick and fast imho ...
Hi Bkn -
Your placing Q first: Are you suggesting that NM diluted (through this placing)by 0.5% with the full knowledge that the market would probably react by the same (at the very least)?
Lo and behold the market did react and by 20 times the dilution rate, at 10%!
If (as you say through your experience) you know this is going to happen...tell me why anyone, absolutely anyone in their right mind would enrol for any allocations? Instead (if they want discounted shares) they simply buy the next day. Can you explain why there is a religious calling (by some) to get on the placing bandwagon?
On your second issue (NM playing in the major league), he is way outside his capability currently and flying blind. I own two companies and when I decided to expand, I brought in 'experts' in areas I was not familiar with, as I got larger. They paid for themselves in spades. They then stood down.
NM brought an NCM rep onboard precisely to assist with his endeavours for expansion and ultimate production. It is becoming apparent that the advice NCM is/has given, is not welcome and so the pair have fallen out. NM 'thinks' he knows better, no doubt especially now that he has been assured by the franco support. But believe me when I tell you he is in no way "in the major league" in any shape or form. He might think he is but as it stands (reflected in his activities and time scales), he is still a minnow and continues to think like a big fish in a small pond. IF......and it is a massive IF.....he really genuinely wants to take this to production, he needs support from a major(s). Annexing them at this stage and coming up with c -o -ckamamie pathways like NSR financing and Placings is a strange way to go about it.
BHP must be pulling their hair out. Hurry up October, that's all I can say.
To re-iterate, Bkn - I am firmly of the belief that this stock will make it BIG. No ifs or buts..............it's just the length of time he is taking over it. Get on with it Mather and stop thinking you are the new mining messiah!
Sell Alpala and bask in its success and press on with the other 70+ tenements. Clocks ticking old man.
Agree Jerry. This buyout will be closer to 50/60p vs £1 / £1.50 (regardless of fundamentals 5 years out). Fact that the share price has not moved as I am sure NM intended over past few weeks means the number won't need to be as high as everyone else thinks either. Everytime this stock gets news it will be met by short term profit takers (nothing wrong in that)... which only lead a low bid offer. There really are only a few players who will buy SOLG in Ecuador, if one bids it doesnt open the floodgates for a whole lot more players entering the ring.
I think and hope that a t/o is on the cards. Can’t see any other way this sp will get above 40p and not even sure a t/o will be above 40p. NC sell to BHP, BHP then mop up what CGP have left if any. Tender offer to take them to 51% and then a nice discussion with NM about how they intend to appoint new directors and his time is up.
NM thinks he has played a blinder and so do some here. I think he has way overplayed his hand. He had a nice company and a nice business if he had thought it through. Maybe geos make great explorers but hopeless managers of businesses. The non execs have a lot to answer for, but they are probably just his mates so hardly independent. One way or another I think this play is in the final act and it will end sometime next winter. Wish it were sooner....
Right - gotcha ;o]
It's v odd!
Of course we'll be the last to know as always.....
I was referring to the 5 trades of £5.8m (sorry not £5m) trades - the time on those is 10.11am so they happened within 1 minute whilst the market was open.
late reported trades
took a snapshot of these yesterday for my records.........
are you literally referring to the one 5m trade?
what's you're thoughts on the others?
I think BHP and Newcrest will never split it 50/50. BHP have more cash and will want it themselves. It’s why he wants to keep their combined holding <30% which is will be now after the c7-8% dilution we have suffered.
I think the 3 parties the article refers to could be BHP, Newcrest and Franco. But I’m hoping a 4th in Barrick will get the ball rolling on Monday.
The late reported trades of £5m happened at 10.11am - that could be the new investor buying on the open market? We will know either way on Monday who this is.
I fully expect the bidding to begin sooner than we all expect - it’s why NM wants to drill AS FAST AS HE CAN.
DBW - That would be interesting wouldnt it?
Pity they can't tho......so
Dunno how much u know bout the key driver of DGRs SP .... It's SOLG.....
SOLG goes up DGR goes up and vice versa!!!
You've been posting this for months now BM.....
Do you have proof ....
E.g X company was this now this etc.... .
I take it you don't like?, Trust? Nick then , do you know much about the asset we have?, putting Personel agenda to the side for a moment
My thoughts aswell. A takeover on the cards
I currently have a small holding in BMN - but I would agree, one for the future!
The one I invested in a few weeks ago was Regulus Resources (REG) - I have been impressed with the high mineral content at a very shallow drill height. Check their investors presentation, they compare themselves to Solgold, and have some of the best drill holes around. Currently in the middle of a 3 year drill plan, so there is plenty of chance to get in early. Tight share structure, and a team that has done it before, still early to get in, because i think it will be a long hold. Saw a price increase on Friday because I think drill results are pending.
Of course, DYOR! :)
There is another 200million options still in play should a takeover occur before Dec., 21. With the 130 million from these 2 latest and unexpected capital raising together with the 100million BHP last purchased, I think the total number of shares will be in the realm of 2.4billion shares. There are at least 180 million in play here. If you want to see more of Mather's strategy of 'looking after all shareholders' have a look at DGR on the Aus Hotcopper discussion forum. A CR that has destroyed DGR's share price with an out of blue capital raising with most the money going to support failed DGR daughter and new companies leaving only $300,000 in DGR's almost empty bank account. Every other company that he is currently Director of has collapsed with at least two have their shares down to 0.001c per share. Others have dropped over 90% as well. Have a look how Mather has accumulated a significant number of his shares in SOLG and you will see that have been granted to him for zero pence or well under 10p. Let us not forget the 35 million SOLG options he has gifted himself already, with a further 130 million still to come. To say all that is happening is to encourage BHP and/or Newcrest and or another major player to make a higher takeover offer. It was Mather that instigated the proviso limited them BHP to Oct of this year, before it could make such offer. A recount of the last 18 months: gone to war with Cornerstone, BHP, Newcrest and now DGR while selling huge chunks of the company at arguably discounted prices. How can we continue to trust this guy when he has and continues to destroy so many shareholder's investments.
Still wish they’d expand on the 3 large groups circling the company
Do you want to expand Zoros?
Questioning NM's motives? What's in question exactly?
Can you show these "orgasmic reactions" you refer to?
I am a long termer here prob longer than most (although I think there are others that go back even further than 2009), I don't set upon people unnecessarily but do defend (the co, a poster, management etc) where I feel the need to or where I feel that others posting untruths need to be put straight! I don't apologise for that in the slightest either!!! There have been far too many clearly obviously and likely paid bashers flying in on this spouting absolute bs which many of us here know is bs and know what these tactics are and therefore challenge them & rightly so!!!!!
I feel at worst ur being somewhat disingenuous with the comments about the the placing or at best not been around to know - it's perfectly normal for this to happen........sp to drop to and below the placing price............I've witnessed hundreds over the years and it happens without fail!
NM out of his comfort zone - there may be some truth in this statement, as he's not playing in the little leagues anymore but now playing in the major leagues with co's that are not only ruthless but also have money behind them - bit like a footie team coming up from the conference into the premiership...........
Hi phattrader1. Great find, great article ! A crazy notion popped into my head this morning, whilst catching up on this message board, just humour me please. Do you think, that it is beyond the realms of possibility, that BHP and Newcrest could join forces to buyout the Cascabel project ? Both companies are going to need a good copper reserve for the future, so who knows ! GLA and stat safe !
I’m sure I read somewhere that the number of shares after the placing would be almost exactly 2bn
From my point of view that makes it much easier to calculate Mcap or translate the value of any offer made ..... not a numbers man ... especially after 6pm:)
Zoros, your analysis is spot on. I agree 100%.
posted on GGP for those invested there.....